Cascadia president Eric Murray to speak at next OneRedmond luncheon

Courtesy Photo

Dr. Eric Murray, president of Cascadia Community College

July 29, 2013 ? 12:59 PM

OneRedmond's next investor's luncheon will be from 11:30 a.m. to 1 p.m. on Aug. 21 at Matts' Rotisserie & Oyster Lounge at 16551 N.E. 74th St. in Redmond Town Center.

The lunch will feature Dr. Eric Murray, president of Cascadia Community College. He will discuss "What do we want for our children? Education and Careers on the Eastside."

The program will explore the dilemma families face in choosing a path for their kids after high school. ?Admissions rates and qualifications of students to get into universities will be shared along with the fact that only one out of every five applicants gains admission to the university of their choice. Options and local resources for how to keep kids on the right path will also be discussed. This data is specific to the school districts on the Eastside.

The event's menu will be rotisserie chicken penne pasta with sundried tomato cream sauce, radicchio, green beans, basil and gorgonzola. Vegetarian and vegan options are also available.

Pre-registration is required due to limited space and restaurant accommodations. Attendees are also asked to specify if they have any food allergies or dietary restrictions. Cancellations with less than 24 hours notice will not be reimbursed.

To register or RSVP, click here.

Source: http://feeds.soundpublishing.com/~r/redmondbusiness/~3/6rCZ8uyUM88/217433121.html

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Correlation Between Subjective Evaluation of Symptoms and Objective Findings in Early Recurrent Head and Neck Squamous Cell Carcinoma Head and Neck Cancer Evaluation and Findings Head and Neck Cancer Evaluation and Findings

Importance? This study addresses the value of patients? reported symptoms as markers of tumor recurrence after definitive therapy for head and neck squamous cell carcinoma.

Objective? To evaluate the correlation between patients? symptoms and objective findings in the diagnosis of local and/or regional recurrences of head and neck squamous cell carcinomas in the first 2 years of follow-up.

Design? Retrospective single-institution study of a prospectively collected database.

Setting? Regional hospital.

Participants? We reviewed the clinical records of patients treated for oral cavity, oropharyngeal, laryngeal, and hypopharyngeal carcinomas between January 1, 2008, and December 31, 2009, with a minimum follow-up of 2 years.

Main Outcomes and Measures? Correlation between symptoms and oncologic status (recurrence vs remission) in the posttreatment period.

Results? Of the 101 patients included, 30 had recurrences. Pain, odynophagia, and dysphonia were independently correlated with recurrence (odds ratios, 16.07, 11.20, and 5.90, respectively; P?<?.001). New-onset symptoms had the best correlation with recurrences. Correlation was better between 6 to 12 and 18 to 21 months after therapy and in patients initially treated unimodally (P?<?.05). Primary stage and tumor site had no effect.

Conclusions and Relevance? The correlation between symptoms and oncologic status is low during substantial periods within the first 2 years of follow-up. New-onset symptoms, especially pain, odynophagia, or dysphonia, better correlate with tumor recurrence, especially in patients treated unimodally.

Source: http://archotol.jamanetwork.com/article.aspx?articleID=1699727

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Time Warner blackout of CBS goes into 2nd day

This image provided by CBS shows a CBS advertisement in Times Square in New York on Friday, Aug. 2, 2013. Three million Time Warner Cable customers in New York, Los Angeles and Dallas lost access to CBS programming in a fee dispute Friday, threatening their ability to watch popular shows like "Under the Dome" or see Tiger Woods pursue his 8th win at the Bridgestone Invitational. The nation's second largest cable operator said that CBS refused to have productive negotiations, which were repeatedly extended after their previous deal expired at the end of June. (AP Photo/CBS)

This image provided by CBS shows a CBS advertisement in Times Square in New York on Friday, Aug. 2, 2013. Three million Time Warner Cable customers in New York, Los Angeles and Dallas lost access to CBS programming in a fee dispute Friday, threatening their ability to watch popular shows like "Under the Dome" or see Tiger Woods pursue his 8th win at the Bridgestone Invitational. The nation's second largest cable operator said that CBS refused to have productive negotiations, which were repeatedly extended after their previous deal expired at the end of June. (AP Photo/CBS)

Time Warner Cable's blackout of CBS continued Saturday, and neither side indicated a resolution of their dispute over fees is imminent.

Time Warner dropped CBS Friday in New York, Los Angeles, Dallas and several other cities, leaving three million customers without the network's programs. The issue is fees that the cable company pays CBS to air its programs.

Each has accused the other of making unreasonable demands. On Saturday the two sides even seemed to disagree on the status of negotiations. A Time Warner spokeswoman said Saturday afternoon that negotiations are ongoing. CBS said it expects talks to resume soon, but the decision rests with Time Warner.

Without a deal, Time Warner customers were missing Tiger Woods' attempt at his 8th win at Firestone Country Club near Akron, Ohio, in this weekend's Bridgestone Invitational. Woods held a lead of 7 strokes as he played Saturday. CBS fans also won't see programs such as "Under the Dome" or "60 Minutes."

Time Warner cut off the CBS shows as well as cable networks Showtime, TMC, Flix and Smithsonian. The cable company's customers are caught in the middle, and the stakes will only go higher. CBS will air the PGA's final major tournament starting Thursday, and its preseason National Football League coverage begins on local stations next week.

Late Friday night, Time Warner posted a message to subscribers on its website from CEO Glenn Britt saying that CBS has been "uncompromising" by making demands that are inconsistent with deals made with hundreds of other broadcasters. If Time Warner gives in to CBS' demands, he said, then other programmers will ask for more as well.

"Cable TV bills would skyrocket. You'd be mad. We'd be mad. It won't end well for anyone," Britt wrote.

Time Warner charges about $20 monthly per subscriber for broadcast channels. One industry analyst estimates that CBS got 75 cents to $1 per Time Warner subscriber in the contract that recently expired.

CBS said this is the first time it's been dropped by a cable system, and it has successfully negotiated deals with Comcast, Cablevision, Charter, DirecTV, AT&T, Verizon and other companies.

"CBS programs are among the most popular in the industry, and yet there are many cable networks - with considerably less viewership - that receive more money for their programming from Time Warner Cable than we do," CBS CEO Leslie Moonves said in July memo to employees.

The fight could be a long one with CBS trying to gain revenue from retransmission fees to buffer against cyclical swings in advertising revenue and Time Warner caught in a competitive environment that limits price increases to pay for rising programming costs.

Research firm SNL Kagan estimates retransmission fees paid to programmers will reach $3 billion industry-wide this year and double to $6 billion by 2018.

Earning revenue from pay TV subscribers is crucial to CBS's growth prospects, analysts say. Even though CBS sends its signal out over the airwaves for free to anyone with an antenna, about 85 percent of its viewers watch TV through a pay TV provider.

Time Warner spokeswoman Maureen Huff said the company is not worried about customers switching to a different TV-service provider to get CBS. Programming fee disputes are common in the industry and could happen to other providers in the future, she said, adding that the number of such disputes has risen in the last few years.

Indeed, a competitor, DirecTV, came to Time Warner's defense on Saturday, issuing a statement that praised the cable company. "In trying to protect our won customers, DirecTV has certainly had its share of these battles, so we applaud Time Warner Cable for fighting back against exorbitant programming cost increases," the statement said.

The dispute may bring some government action. In New York, the City Council announced Saturday that it would convene hearings Thursday on the spat, demanding answers from both companies. "Television service should not be dependent on the whims of a bitter corporate standoff," said the council's speaker, Christine Quinn, who is also a leading candidate for mayor.

Time Warner is fighting to hold the line on costs as it struggles to keep subscribers. It lost 191,000 cable TV subscribers in the most recent quarter, ending with 11.7 million at the end of June.

Still, both companies posted healthy quarterly earnings this week. Time Warner Cable grew its net income 6 percent to $481 million, or $1.64 per share, as revenue rose 3 percent to $5.6 billion. CBS grew net income 11 percent to $472 million, or 76 cents per share. CBS's revenue also grew 11 percent to $3.7 billion thanks in large part to the fees that are in dispute with Time Warner Cable.

The CBS stations that went dark are WCBS and WLNY in New York; KCBS and KCAL in Los Angeles; KTVT and KTXA in Dallas; WBZ and WSBK in Boston; KDKA, WPCW-CW in Pittsburgh; KCNC in Denver; WKBD-CW in Detroit and WBBM in Chicago.

About 2.5 million Time Warner Cable customers lost access to Showtime, the premium channel that carries shows such as "Dexter."

Time Warner said it would temporarily replace lost programming with shows from Starz Kids and Family.

___

Krisher reported from Detroit. David B. Caruso contributed from New York.

Associated Press

Source: http://hosted2.ap.org/APDEFAULT/495d344a0d10421e9baa8ee77029cfbd/Article_2013-08-03-CBS-Time%20Warner%20Cable/id-bbabe6d088984f88818ee9ccc159cbdf

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A Week With Google Glass

Last week, I was lucky enough to stumble into a pair of Google Glass(es?) These things are so new I am not entirely sure how you refer to having them in your possession. Google Glass, of course, is Google?s $1500 wearable computer shaped like a pair of eyeglasses (minus the lenses). There?s a battery and computer built into one of the stems, and a small heads-up display above the right eye. If you imagine that Google Glass is sort of like having the most useful information from your phone beamed directly into an unobtrusive corner of your eye, you start to get a sense of what this is all about.

Hey: Have a question about tech? You can talk directly to one of our nerds and get an answer right away!

You can?t walk into a store to buy Google Glass today, and the Google Glass website reports that ?applications are now closed? just in case you wanted to throw money at the computer screen to get your own pair. Eventually, they?ll be widely available, but for now, only a select few have one. Those select few include the eHow engineering team, and I managed to borrow it from them for a week to try them out for myself.

First and foremost: They utterly reek of geekiness.

There?s nothing subtle about wearing a pair of glasses that have no lenses, but sport a massive cyborg-like frame on one side. If you?re wearing a pair, people know it, as you can see in this photo, where eHow editor Rachel Horn models the Google Glass in question. And the primary way to interact with Google Glass is via voice command: To take a picture, for example, you start by snapping your head upwards as if you just woke from a power nap?? that nudges Glass and readies it to receive a command. Then you speak to it: ?OK, Glass.? After a moment, you can say the actual command, ?Take a picture.? It?s deliciously futuristic, geeky, and goofy, all at the same time.

Don?t fear that you?ll forget the possible voice commands; there?s only a half dozen or so, and they appear as a list when you say ?OK Glass.? You can take a picture, shoot a short video, send an email, perform a Google search, set a route in Google Maps, and open a Google Hangout. That?s pretty much it.

Glass depends a lot on touch as well. In addition to the half-dozen voice commands, you navigate around the Glass interface by swiping or tapping on the frame with your finger.? The Glass UI, you see, is actually organized like a timeline of cards, sort of like Google Now. Everything you do (email, photos, and so on) becomes a card that you can flip through by swiping forward and backwards with your finger. When you want to do something to a card, like email a photo, you tap it to make a selection, and then continue swiping to choose a command.

Bottom line: If you see someone talking to herself and appearing to brush her eyeglass frame, she?s either wearing Google Glass or a little crazy. Or, I suppose, both. No reason to rule out both.

A few third-party apps have started to appear for Glass. For example, you can install a to-do list that lets you dictate tasks that get turned into to-do cards in your timeline. CNN and the New York Times have apps that send news updates to your Glass, but they inundate your timeline with such an enthusiastic flood of news items that they end up being useless. Perhaps the best app I?ve found yet is a recipe tool that displays detailed prep and cooking directions so you can make dinner without fiddling with a phone, tablet, or recipe book. That, folks, is a cool and compelling experience.

But aside from that one app, I couldn?t help but feel a little disappointed with my week with Glass. It just didn?t do enough that was genuinely useful to justify a place on my head all day. (Assuming that it can last a whole day before the battery gives out, which it can?t.)

That said, eHow Tech contributor Jason Cipriani disagrees with me. He?s?had his Glass for a month, and he told me about how Google Glass is a piece of tech that completely and seamlessly fades out the way for him ? like when he pulled up navigation data while on a trip without ever looking at his phone or breaking the flow of conversation with his wife. ?The longer I use it,? he told me, ?the more I find it working itself into my daily life.?

I?m completely jazzed about the potenial of wearable tech like Google Glass, but even I ? the consummate early adopter ? will wait for version 2.What do you think? Is wearable tech like Google Glass going to take root? How soon?? Let me know your opinion in the comments or on Twitter @davejoh.

Source: http://www.ehow.com/ehow-tech/blog/a-week-with-google-glass/

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Michael Dell and Silver Lake up their offer for Dell buyout

The competition for Dell is heating up again today, as CEO Michael Dell and investment outfit Silver Lake have increased their buyout offer for the company. The new agreement raises the per share price to $13.75, provides for a special dividend of 13 cents per share, as well as an 8 cents per share dividend in the third quarter. Basically, these revised terms add, at the most, $470 million to the previous proposal that valued the company at around $24.4 billion. In order to give shareholders a chance to mull it over, the date when deciding votes will be cast has been pushed to September 12th. Plenty of time for the next counter-offer to come through, then.

Filed under: Desktops, Microsoft, Dell

Comments

Via: AllThingsD

Source: http://www.engadget.com/2013/08/02/dell-buyout-offer-increased/?utm_medium=feed&utm_source=Feed_Classic&utm_campaign=Engadget

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Digital to dethrone TV as king of home entertainment

Technology

Devin Coldewey NBC News

8 hours ago

Microsoft

Microsoft's Smart Glass app takes advantage of the fact that most users will have a smartphone or tablet handy while using the TV.

It's been a long time coming, but it looks like television, the reigning champ of home entertainment for generations, may finally be displaced by our smaller, more portable digital devices. A new study suggests the dethroning should occur this year.

According to tracking firm eMarketer's data, in 2013 adults in the U.S. will spend 5 hours and 9 minutes every day on average using digital media in some form ? be it apps, streaming video, games, or browsing the Web. They will also, meanwhile, engage on average with 4 hours and 31 minutes of TV.

It's second (and third) screens that contributed to digital's growth, the company says. Although time spent on desktops and laptops dropped slightly, people spent about an hour more on average doing non-voice things on their mobiles.

It makes sense: mobile phones are our constant companions, and every minute spent checking your Instagram feed, chatting on Facebook, or watching YouTube is one less you could be watching TV. And how many times during a boring show have you checked Twitter or played a quick level of "Cut the Rope"?

test

Of course, it's not a simple thing to collect or even define some of these figures, so eMarketer was careful to point out that other research companies reached different conclusions. For instance, it estimated that among all consumers, about 2 hours and 19 minutes of a person's media consumption time was online. But a Temkin Group study they cite puts the figure at 5 hours and 48 minutes. So take all these figures with a grain of salt.

That said, the trends shown are unmistakeable: People are watching the same amount of TV or slightly less, while their use of mobiles and online services is skyrocketing. Even if eMarketer's estimate that digital will overtake TV is premature, it's sure to happen soon ? or maybe it happened already.

Devin Coldewey is a contributing writer for NBC News Digital. His personal website is coldewey.cc.

Source: http://feeds.nbcnews.com/c/35002/f/663301/s/2f7293ed/sc/28/l/0L0Snbcnews0N0Ctechnology0Cdigital0Edethrone0Etv0Eking0Ehome0Eentertainment0E6C10A820A776/story01.htm

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Nick Cannon to 'sister' Amanda Bynes: 'Call me!'

Celebs

Randee Dawn TODAY contributor

10 hours ago

Getty Images file

Nick Cannon.

Cissy Houston wasn't the only one penning an open letter on Wednesday. Nick Cannon, host of "America's Got Talent," released his own screed ? but this one directed at his "sister," Amanda Bynes, asking her to "Call me!"

Cannon and Bynes appeared together on Nickelodeon's "All That" in the 1990s, and it's clear he still has some affection for the actress, who has recently gotten into a number of bizarre incidents, some of which involved run-ins with the law. (On July 23 she was detained for a mental health evaluation in Los Angeles after she reportedly sparked a fire in a residential driveway.)

The note does start out directly referring to Bynes, whose actions have apparently prompted a number of people to ask Cannon what is going on with her. "I have been hit with an onslaught of questions about someone I consider family, someone I watched grow up, and someone I genuinely feel is one of the most pleasant human beings I have had the pleasure of meeting, Amanda Bynes," he writes.

But after she was taken in for a psychiatric evaluation, he said he could no longer brush off those questions with a "playful humorous manner." His note then turns more general (and yet somehow more personal; Cannon clearly knows of what he speaks) as he tries to explain the process by which a young person can get lost once the entertainment industry spotlight fades after an initial brush with fame.

"Imagine your parents, teachers, and employers NEVER telling you NO," he writes (emphasis is Cannon's). "Anything you ask for or want, the world gives you, at some point you are bound to self-destruct. I call this 'access to excess'. I?ve seen it happen to many of my friends and colleagues young and old.... It?s all a dangerous addiction. When there is no balance in your life a person will always become victim to their reality or lack thereof."

Someone who becomes that kind of victim, he adds, can end up under a different kind of public and media scrutiny, which is another issue. "It's like if you have a delicate piece of tissue under the sun, that tissue is under INTENSE heat with nowhere to escape but once you place a magnifying glass over that tissue, it?s bound to instantly burn up in flames," he writes.

He ends by circling back around to Bynes, telling her "you're not alone. I'm here for you. I understand. I care and appreciate you, because that?s what family does and that?s what family is for.... I?m here! Call me! Because I truly believe, the hand you?re helping up today may be the one you?re reaching for tomorrow."

Bynes has not yet responded on?Twitter to the note.

To read the full note, click?here.?

Source: http://www.today.com/entertainment/nick-cannon-pens-emotional-note-sister-amanda-bynes-call-me-6C10818018

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Transportation funding bill faces GOP opposition

WASHINGTON (AP) ? A measure awarding generous funding to road and bridge projects, community development grants and housing help for the poor is running into stiff Republican opposition in the Senate.

The bill appeared likely to fall prey Thursday to a filibuster by Republicans unhappy that the legislation breaks through budget limits required by automatic spending cuts known as budget sequestration.

"Voting for appropriations legislation that blatantly violates budget reforms already agreed to by both parties moves our country in exactly, exactly the wrong direction," Senate Minority Leader Mitch McConnell, R-Ky., said.

Far more austere companion legislation was pulled off the House floor Wednesday because, top lawmakers said, GOP leaders lacked the votes to pass it. The House Appropriations Committee chairman, Rep. Harold Rogers, R-Ky., said it was time to go back to the drawing board and come up with a compromise with congressional Democrats and the White House.

Taken together, the likely failure of both measures illustrates the shortcomings of the budget strategies by Republicans controlling the House and Democrats in charge of the Senate. At issue are the 12 spending bills passed each year by Congress for the day-to-day working of the government.

House GOP leaders pulled the measure from the floor after detecting opposition from both conservatives and more moderate members. Democrats were united against the bill and its steep cuts to Amtrak, transportation and housing programs, and community development grants.

"There are some folks that have a hard time voting for any appropriation bill and then there are some folks (for whom) this was probably a difficult vote ..., with Amtrak and block grants and stuff," said Rep. Tom Latham, R-Iowa, author of the transportation and housing measure. Aides to top Republicans like Majority Leader Eric Cantor of Virginia and Majority Whip Kevin McCarthy of California maintained that the measure was scuttled because there wasn't enough time in the House's crowded schedule.

Without a broader House-Senate budget agreement in place, the two chambers of Congress have been trying to advance starkly different versions of the 12 appropriations bills, with little success in the House and virtually none in the Senate.

The Senate measures have been drafted to reflect higher budget levels originally called for in a budget deal enacted two years ago. But that deal called for automatic spending cuts known as sequestration if lawmakers could not pass follow-up deficit cuts, and the House spending bills have been drawn to those sequestration levels, which are more than $90 billion lower ? a huge, unbridgeable difference in the approximately $1 trillion budget for daily agency operations.

Congress heads out of Washington this week for a five-week vacation, leaving the mess to be dealt with in the fall. GOP leaders had sought to set up a budget showdown this summer with the need to pass legislation increasing the government's $16.7 trillion borrowing cap. But the government's better-than-expected fiscal performance has delayed that showdown into the fall.

President Barack Obama says he won't negotiate over the debt limit like he did two years ago, a promise he repeated to his House and Senate allies in closed-door meetings on Capitol Hill on Wednesday.

The situation on the House and Senate transportation measures reflects the broader dysfunction in Washington over the budget. All sides want to reverse the crippling sequestration cuts, but a partisan impasse over tax increases sought by Obama and his Democratic allies and cuts to so-called mandatory programs like Medicare and food stamps demanded by Republicans shows no signs of breaking.

Cuts in the House transportation measure were made deeper by a Republican move to cut an additional $40 billion-plus from domestic programs and transfer the money to the Pentagon. That left the transportation measure $10 billion, or about 18 percent, below the Senate's bill.

Rogers, who typically is cautious in his public statements, issued an unusually harsh blast, saying halting debate on the House measure reflected a failure of Republicans to follow up on their promises to cut spending with binding legislation.

"With this action, the House has declined to proceed on the implementation of the very budget it adopted just three months ago," Rogers said. He said the failed transportation and housing measure was the first major attempt by Republicans to pass an appropriations bill at levels consistent with the sequestration cuts and said the failure of the bill meant it was time for a new approach.

The White House said the failure of the House transportation bill laid bare the shortcomings of the GOP budget strategy.

"What we learned yesterday is substantively, people cannot accept the depth of these cuts," White House budget director Sylvia Burwell told reporters Thursday at a breakfast sponsored by the Wall St. Journal. "That level isn't a workable level."

"The House, Senate and White House must come together as soon as possible on a comprehensive compromise that repeals sequestration, takes the nation off this lurching path from fiscal crisis to fiscal crisis, reduces our deficits and debt, and provides a realistic topline discretionary spending level to fund the government in a responsible ? and attainable ? way," Rogers said.

On that, at least, there was agreement.

"The collapse of the partisan transportation and housing bill in the House proves that their sequestration-on-steroids bills are unworkable, and that we are going to need a bipartisan deal to replace sequestration," said Sen. Patty Murray, D-Wash., chief author of the Senate bill.

Source: http://news.yahoo.com/transportation-funding-bill-faces-gop-opposition-072244536.html

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Goldman family responds to Simpson parole

CARSON CITY, Nev. (AP) ? Family members of Ron Goldman say they feel a sense of vulnerability after Nevada authorities granted O.J. Simpson parole on some charges stemming from his 2008 kidnapping and armed robbery convictions in Las Vegas.

Simpson was tried for murder and acquitted in Los Angeles for the 1994 death of his ex-wife, Nicole Brown Simpson, and her friend Ronald Goldman.

The Goldman family said Wednesday in a statement to The Associated Press that they've experienced a reprieve and calm while Simpson has been behind bars.

They say it is unsettling to know he may regain his freedom in a few years

The ruling on Wednesday doesn't mean Simpson will leave prison. He must serve at least four more years on other sentences.

The Parole Board noted that the 66-year-old Simpson had no prior convictions..

Source: http://news.yahoo.com/goldman-family-responds-simpson-parole-224632305.html

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Humana profit rises on growth in retail, employer units

(Reuters) - Health insurer Humana Inc said on Wednesday that its second-quarter profit rose 18 percent, helped by growth in both its direct-to-customer division and the unit that markets plans to employers.

The company, which specializes in private Medicare plans for the elderly, reported net income of $420 million, or $2.63 per share, up from $356 million, or $2.16 per share, a year earlier.

Excluding 12 cents a share in costs of exiting a Puerto Rico Medicaid business for the poor, analysts were expecting earnings of $2.47, according to Thomson Reuters I/B/E/S.

Humana is the fourth major insurer to report second-quarter earnings that beat Wall Street estimates. UnitedHealth Group Inc , WellPoint Inc and Aetna Inc have all said their profits had benefited from reduced use of medical services by customers.

Revenue rose to $9.7 billion from $9.2 billion, below analysts' expectations of $10.3 billion.

Private Medicare, known as Medicare Advantage, accounts for about two-thirds of Humana's revenue.

The company raised its full-year earnings forecast to a range of $8.65 to $8.75 per share to reflect the second-quarter results. Analysts were expecting $8.68 per share.

Humana said it had spent 83.4 percent of premiums it took in on medical benefits, down from 83.5 percent a year earlier. It had 12.37 million medical members at the end of the quarter, and another 8.27 million people were in dental, vision and other supplemental benefit plans.

(Reporting by Caroline Humer; Editing by Lisa Von Ahn)

Source: http://news.yahoo.com/humana-second-quarter-profit-rises-retail-employer-divisions-101707382.html

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Facebook passes $38 initial public offering price

FILE - In this May 18, 2012 file photo provided by Facebook, Facebook founder, Chairman and CEO Mark Zuckerberg, center, rings the Nasdaq opening bell from Facebook headquarters in Menlo Park, Calif. Facebook's stock has passed its IPO price of $38 before the market open on Wednesday, July 31, 2013. If the gains hold in the regular session, it would mark the first time the stock has risen above that mark since its rocky initial public offering in May 2012. Menlo Park-based Facebook has been on a roll since it reported stronger-than-expected earnings on July 24. Investors are upbeat about its fast-growing mobile advertising revenue. (AP Photo/Nasdaq via Facebook, Zef Nikolla, File)

FILE - In this May 18, 2012 file photo provided by Facebook, Facebook founder, Chairman and CEO Mark Zuckerberg, center, rings the Nasdaq opening bell from Facebook headquarters in Menlo Park, Calif. Facebook's stock has passed its IPO price of $38 before the market open on Wednesday, July 31, 2013. If the gains hold in the regular session, it would mark the first time the stock has risen above that mark since its rocky initial public offering in May 2012. Menlo Park-based Facebook has been on a roll since it reported stronger-than-expected earnings on July 24. Investors are upbeat about its fast-growing mobile advertising revenue. (AP Photo/Nasdaq via Facebook, Zef Nikolla, File)

NEW YORK (AP) ? Facebook's stock has passed its $38 IPO price for the first time since its rocky public debut last May, crossing a symbolic hurdle that has eluded it for more than a year.

Shares of Facebook Inc. increased 1.2 percent to $38.08 in morning trading Wednesday. That's the highest the stock has traded since the company's highly anticipated initial public offering ended with a thud. The stock is up by more than 50 percent since last week.

The world's biggest online social network has been on a roll since reporting stronger-than-expected earnings on July 24. Investors are especially upbeat about its fast-growing mobile advertising revenue.

Facebook's ability to grow mobile revenue was one of the biggest concerns in the weeks leading up to its IPO last year. Investors were worried that its ad business was not migrating to mobile gadgets as quickly as its user base. Facebook urged patience.

In the April-June quarter, Facebook derived 41 percent of its ad revenue from mobile advertising, or about $656 million of $1.6 billion. That's up from zero in the spring of 2012 and from 30 percent in the January-March quarter of this year. CEO Mark Zuckerberg said last week that the company has "made good progress growing our community, deepening engagement and delivering strong financial results, especially on mobile."

Still, Facebook has room to grow. Research firm eMarketer expects Facebook to increase its mobile advertising revenue more than fourfold to more than $2 billion this year. This would give the Menlo Park, Calif., company a 13 percent share of the global mobile ad market, up from about 5 percent last year.

Facebook is currently No. 2 in mobile ads, well behind Google. EMarketer estimates that Google had a 52 percent share of the global $8.8 billion mobile ad market last year. This year, the firm expects Google's share to grow to 56 percent.

Associated Press

Source: http://hosted2.ap.org/APDEFAULT/495d344a0d10421e9baa8ee77029cfbd/Article_2013-07-31-US--Facebook-Stock/id-deb7ed57d37c42ddb9409fe6850ad40b

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